Massachusetts Financial Services Co. MA Lowers Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Massachusetts Financial Services Co. MA reduced its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,410 shares of the company's stock after selling 7,727 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.17% of Jackson Financial worth $10,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Empowered Funds LLC purchased a new stake in Jackson Financial during the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Jackson Financial in the 4th quarter worth $44,000. Blue Trust Inc. raised its holdings in Jackson Financial by 108.1% in the 4th quarter. Blue Trust Inc. now owns 774 shares of the company's stock worth $71,000 after purchasing an additional 402 shares during the period. R Squared Ltd purchased a new position in Jackson Financial during the fourth quarter valued at $126,000. Finally, CIBC Private Wealth Group LLC grew its holdings in Jackson Financial by 904.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,486 shares of the company's stock valued at $132,000 after purchasing an additional 1,338 shares during the period. Institutional investors own 89.96% of the company's stock.

Jackson Financial Price Performance

Shares of NYSE:JXN traded up $0.73 during trading on Friday, hitting $71.88. 828,924 shares of the company's stock were exchanged, compared to its average volume of 753,023. The business's 50-day simple moving average is $84.68 and its 200 day simple moving average is $91.89. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 6.28 and a beta of 1.49. Jackson Financial Inc. has a 52-week low of $62.81 and a 52-week high of $115.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. As a group, equities analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were paid a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.20 annualized dividend and a yield of 4.45%. This is a boost from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's payout ratio is presently 27.95%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, CEO Craig Donald Smith sold 20,607 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the completion of the transaction, the chief executive officer now owns 116,423 shares in the company, valued at $8,093,726.96. This trade represents a 15.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Romine sold 7,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the transaction, the chief executive officer now directly owns 85,276 shares of the company's stock, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

JXN has been the topic of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on Jackson Financial from $105.00 to $90.00 and set a "market perform" rating on the stock in a research note on Wednesday. Barclays reduced their target price on shares of Jackson Financial from $118.00 to $106.00 and set an "overweight" rating for the company in a report on Friday. Finally, Morgan Stanley lowered their price target on shares of Jackson Financial from $92.00 to $86.00 and set an "equal weight" rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $91.40.

About Jackson Financial

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.